GST Council Meeting On February 18, Fitment Committee To Decide On Cement Rate Reduction

The agenda for the Council is to consider a report by the GoM chaired by Meghalaya Chief Minister Conrad Sangma for levying GST on online gaming, casinos, and horse racing, according to reports

CBIC Chairman Vivek Johri on Friday said that the GST Council will meet on February 18. According to news agency ANI, Johri said that the Fitment Committee will meet to decide on rate reduction on cement as announced by Finance Minister Nirmala Sitharaman.

 Currently, there is 28 per cent GST on cement said Vivek Johri.

According to news reports, the agenda for the Council is to consider a report by the Group of Ministers (GoM) chaired by Meghalaya Chief Minister Conrad Sangma for levying GST on online gaming, casinos, and horse racing. The GoM has not been able to arrive at a consensus on the tax principles for these sectors, according to news reports.

This GoM report was to have been taken up for consideration by the 48th GST Council last December.

The Goods and Services Tax (GST) collection for December month rose to Rs 1.5 lakh crore, the finance ministry said on January 1. The GST collections for December were up 15.2 per cent compared to December 2021, which was Rs 1.46 lakh crore. 

The GST collections in December were 2.5 per cent higher than last month. In November, Gross GST collections stood at Rs 1.46 lakh crore. The GST collections have now exceeded the Rs 1.4-lakh crore mark for 10 months in a row.

The Ministry of Finance in its press release said that the gross GST revenue collected during December 2022 is Rs 1,49,507 crore, of which Central Goods and Service Tax (CGST) is Rs 26,711 crore, State Goods and Service Tax (SGST) is Rs 33,357 crore.